6 Essential Reasons Why your Business should (finally) Go Solar
The world’s most influential companies have committed to 100% renewable power by 2030. While global corporate giants like Apple, Amazon, Accenture, Ikea, SwissRe, 3M, Tata Motors, Akzo Nobel, Astra Zeneca and many more have pledged to be carbon neutral by 2030, corporations like Microsoft have gone a step further and pledged to be carbon negative.
Is solar energy really beneficial for your business? Let’s take a deep dive into this pertinent question.
Harness Solar Energy, Save-up on your Utility bills
Solar is king because it’s present everywhere. You can rely on the sun to show-up every day. A solar installation will lower your utility cost, which means you can save-up on operational expenses (yes, solar energy is now cheaper than conventional sources of power).
If you have idle roof space, you can monetize your roof by installing a rooftop solar power plant. With “Zero Capex” options being offered by many companies (including ours), you can even switch to clean energy and start saving from Day 1, without having to invest any money upfront.
Reduce your Carbon Footprint
A Solar PV system harness’ energy from the sun to produce electricity. This renewable energy source is not dependent upon the burning of fossil fuels. It means solar energy does not produce greenhouse gas emissions that are harmful to the environment. By going solar, your company can meet its RPO (Renewable Purchase Obligations) and reduce its carbon footprint.
Many companies in India and around the world still face grid failures and power cuts and rely on Diesel Gensets (DG) for back-up power. By installing a solar pv system and synchronising it with your DG set, you can reduce your diesel consumption significantly. This can help you be energy independent and be worry free about future power cuts increasing your operational expenses.
Excellent Return on Investment (ROI)
In India, business’ that invest in a solar power plant can avail an accelerated depreciation rate of 40% on their capex investment. This help corporations reduce their income tax liability and significantly boosts the return on investment from the project. This accelerated depreciation benefit has enabled many public and private sector corporations to invest in solar pv systems.
Hedge against Future Increase in Power Costs
Electricity prices have increased at an alarming rate over the years. Industrial and commercial consumers in almost all states in India are paying almost double the rate for power than what they used to pay a decade back. By going solar, your business can hedge against this slow but steady increase in power costs over the years. Your decision to switch to this green and clean source of energy today will reap rewards for years to come.
By going solar and committing to renewable energy, your business not only has immediate monetary benefits but will also benefit by an increase in its brand value. Various surveys have shown that consumers and clients prefer products and services of companies demonstrating green leadership, versus a company not taking any action towards reducing its carbon footprint.
“Coal power is quickly facing economic obsolescence, independent of carbon pricing and air pollution policies,” Matt Gray, Managing Director and Co-head of power and utilities at the Carbon Tracker Initiative.
As outlined above, the generation of solar energy to support your business has multiple tangible and intangible benefits. Please get in touch with our team to receive a free consultation today.